Regulatory Frameworks

There is little doubt that South Africa is the market leader in terms of SRI in the region and, more broadly, in emerging markets. The Johannesburg Stock Exchange was the first emerging market exchange to launch a sustainability index in 2004. There have also been other regulatory developments in South Africa that have supported disclosure of ESG factors and the growth of SRI. Although still nascent, other sub-Saharan African markets are exploring similar regulatory frameworks.